Acceptance Auto Insurance: Are They Right For You?

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“You. Your Terms. Accepted.” That is the registered motto of Acceptance Auto Insurance. And it’s a very appropriate one considering the fact that their financial products are marketed toward the “non-standard” automotive insurance customer.

Acceptance insurance promises to take care of you, your vehicle, and to offer you the coverage you need when other companies reject you for coverage or cancel your policy. Most of the time, these cancellations/rejections are the result of a DUI, bad credit, the need for SR-22 coverage, or if you have a teenage driver on your policy (among other conditions). Companies like Acceptance give drivers who have fallen on hard times or under unfortunate circumstances to work their way back up.

Acceptance Insurance Review

It’s important, when choosing a company, to look at reviews from multiple different sources. AM Best rates the financial strength of Acceptance a “B”, or “Fair”, and claims that their ability to pay out claims in the near future is stable. The Better Business Bureau has given them an A+ rating based on 20 different customer reviews with an average rating of 3.7/5 stars. On the NAIC Complaint Index, however, there are above the national median with an average rating of 2.57.

Ratings Agency

Rating

AM Best Financial Rating (2015)

B (Fair)

Better Business Bureau Rating (2016)

A+

NAIC Complaint Index (2012, Average)

2.57 (vs. National Median of 1.31)

Acceptance Insurance Discounts

With a policy from Acceptance, you could be eligible for the following discounts:

Owning your own home

Proof of prior insurance

Marriage

Multi-car policy

Electronic payments

Unfortunately, they don’t advertise how much you will save on your policy if you qualify for one or more of these discounts. I you decide to get a personalized quote from an Acceptance Auto Insurance agent, make sure you ask them for exact numbers. This can help you calculate costs and figure out if Acceptance is offering the best deal.

Acceptance Auto Insurance Options

Acceptance keeps their policies simple. They offer basic Liability coverage required by state law, and additional forms of coverage (such as PIP) in states like Florida where the additional coverage is mandatory. Comprehensive and Uninsured/Underinsured coverage are offered as additional options in most states, unless state law requires you to purchase them as well.

Basic Liability Coverage

Comprehensive and Collision Coverage

Uninsured or Underinsured Motorist Coverage

Personal Injury Protection (only where legally required)

Comparing Acceptance Insurance Quotes

If you’ve been rejected by other companies due to high-risk circumstances such as poor credit, SR-22 coverage, or being a young driver, you might have fewer potential companies to choose from. But that just makes comparison shopping that much more important. For example, a single renter and a married homeowner in Florida might be expected to pay:

Now there are some clearly different rates from one company to another. Some providers are offering better prices than Acceptance, while some are significantly lower. However, the numbers above are estimates and won’t apply to every single shopper. You also have to decide wither choosing a cheaper company will require that you sacrifice high-quality customer service or a more efficient claims process.

Pros and Cons of Acceptance Insurance

Pros

Cons

Specializes in auto insurance for non-standard or high risk drivers

Prices for standard drivers more expensive than other insurers’

Quick, simple online quote process

Actually purchasing a policy requires more work

Claims processing is not 24 hours a day, and the office is closed on Sunday

If you need a policy from Acceptance because no other local company will cover you, there’s a chance you might have to put up with a higher monthly premium while you rebuild your credit and driving history. And, unfortunately, there isn’t 24/7 customer service support for claims. However, they do provide motorists who might otherwise not be able to drive legally with a legal option. And for some people, that opportunity is very valuable.